It is a prerequisite to fulfill before your company can obtain an Estonia crypto license to trade in bitcoin and other crypto coins. Estonia has a promising market for cryptocurrency exchange. It is considered one of the best European countries with the highest technological advancement. The country equally occupies a competitive position in the international space. Its digital transformation became noticeable in 2008 during the time blockchain technology emerged. Today, it has become the destination of many foreign investors. As the first country in Europe to make a provision for the regulation and exchange of digital tokens and coins, it is germane to learn about the necessary steps to take when looking out to get an Estonia cryptocurrency exchange license.

Reasons to Obtain Estonia Crypto License

A “why?” question should always precede a decision or an action. Below are the reasons why it is important to obtain an Estonia crypto license:

  • Estonia is reputed as one of the most secured countries in the world for cryptocurrency exchange business.
  • The registration process for crypto license Estonia is straightforward with an equally transparent taxation system.
  • It is the attraction of big companies to set up their businesses because of the government’s positive reaction to crypto technology.
  • The regulators have the right measures in place to secure the public’s interest as well as that of the investor. This implies much trust to invest from the public.

What are the Necessary Requirements to Obtain Estonia Cryptocurrency License?

Proposing a list of requirements a company must fulfill before obtaining an Estonia crypto exchange license serves the purpose of regulating their activities and approving that the companies can meet up the demands of the cryptocurrency business. Below is the list of requirements:

  • A company that intends to be registered to obtain Estonia cryptocurrency license should have at least €2,500 to be considered.
  • The company structure is expected to include the following
  • Minimum of 1 shareholder
  • Minimum of 3 members of the council
  • Minimum of 1 board member
  • A represented contact person to be in charge of AML, International Financial Sanctions and keeping in touch with the state regulators

Required Procedures to Obtain Estonia Crypto License

Estonia has a local law for the regulation of the cryptocurrency market. This is why it has a regulated procedure to obtain a crypto exchange license. This is legally approved with the necessary help available to clear doubts on any confusing details. These stages of application come in different parts with specific requirements. The requirements for the first stage registration is as follows:

  • Preparation and notarization of the attorney’s power
  • Translated power of the legal representative’s power into Estonian power with the issuance of subsequent certification
  • Incorporate the company in Estonia
  • Open a valid corporate bank account for the company

There is a need for these processes before finalizing the incorporation stage of a company in Estonia. Once they are completed by the business owner or an agency that helps with company incorporation, these documents will also be required for submission:

  • A copy of the passport that has been scanned
  • Marriage certificate
  • Residential address and digital address of the owners
  • The official name the company will bear
  • Details about the online presence of the company
  • Location of the company’s business activities
  • The legally approved location of the company’s headquarter

Once this procedure has been completed, what comes next is to apply for an Estonia crypto exchange license.

Procedure Needed to Apply for Estonia Cryptocurrency License

Estonian regulatory body does not hesitate to issue Estonia cryptocurrency exchange license immediately you submit the following information and documents about the company and its activities:

  • Provide the contact details of the company applying for a license.
  • Provide required information about the people that will be in charge of the business activities
  • Provide information about the shareholders
  • Relevant information about the attorney of the company
  • Internal rules to guide the company’s activities and that of the workers drafted by the legal requirement of the Republic of Estonia
  • Provisions of internal control and further instructions
  • Document to confirm that shareholders are non-convicts. To be issued at their place of residence

Conclusion

With the growing credibility of crypto as an alternative to paper currency, Estonia has positioned itself as a country with the future in view. The further steps taken to create an enabling environment for cryptocurrency exchange business to thrive is encouraging. This further proves the need for a forward-thinking crypto exchanger to step up to obtain an Estonia cryptocurrency license.